About Raffleoption
Overview
Raffleoption is a retail forex and CFD broker that presents itself as a market broker since 2009, though our records show a registration date of August 2019. The company is registered in the United Kingdom, but its listed address is PMB 9003, Kumul Highway, Port Vila, Vanuatu. This offshore address is a common characteristic of many unregulated brokers.
The broker does not hold any known regulatory licences from reputable authorities such as the FCA, CySEC, or NFA, despite referencing these bodies on its website. Industry databases indicate a risk score of 45 out of 100, placing it in the 'Guarded' zone, meaning traders should exercise caution.
Regulation and Safety
Raffleoption has no regulators on file with FXCanary. The company's registered address in Vanuatu suggests it may operate under the oversight of the Vanuatu Financial Services Commission (VFSC), but this is not confirmed. The website vaguely mentions 'international observers' and lists major regulators without claiming direct authorisation.
The absence of regulation from a tier-1 financial authority means there is no independent oversight or investor protection schemes. In the event of disputes or financial difficulties, clients have limited recourse. This is a significant risk factor for any trader.
Trading Platforms and Technology
Raffleoption offers two proprietary platforms: RO Web Trade and an RO Mobile Trader App, alongside the widely used MetaTrader 5 (MT5). MT5 is available for Windows and mobile devices, providing advanced charting, technical indicators, and automated trading capabilities. The RO Web platform is browser-based, requiring no installation.
The inclusion of MT5 is a positive aspect, as it is a trusted and powerful platform. However, the lack of information about the execution model, order types, and slippage policies leaves questions about trading conditions.
Trading Instruments and Costs
The broker offers forex trading on major, minor, and possibly exotic pairs, as well as CFDs on commodities and indices. Spreads are advertised as tight, with EUR/USD from 0.7 pips on RO Web Trade and 0.8 pips on MT5. Three pricing tiers are mentioned, but details on the different account types and minimum deposits are not disclosed.
Commission structures are not fully explained, though 'ultra-competitive Forex commission' is claimed. The lack of transparency on fees and account tiers makes it difficult for traders to assess true costs.
Account Opening and Funding
The registration page requires agreeing to terms and conditions, but full details on account types, minimum deposits, and accepted payment methods are not prominently displayed. The website does not list payment processors or currencies supported.
This lack of information may indicate that account opening is not straightforward, or that the broker is targeting less experienced traders who may not ask critical questions.
Customer Support and Resources
Raffleoption provides an economic calendar and claims world-class customer support. The affiliate program section suggests a focus on partner recruitment, offering various commission structures. However, there is no live chat, phone number, or detailed support page visible on the site.
The educational resources are limited, which is concerning for beginner traders. The broker may rely on third-party content or low-quality materials.
Overview compiled by FXCanary from regulatory records and public data. full Raffleoption review